QuickBooks software has made the financial dependency on manual accounting and bookkeeping futileas the software ensures all the financial processing and recording of accounting as well as bookkeeping tasks is completed electronically with minimal scope of errors. One such area where the software has helped the most is in preparation of invoice, sending to buyer and receiving due payment in time. However, there are many users who have complained about some features of Invoice. One of the queries faced by an aggrieved customer as shared by QuickBooks support team executive is listed below along with feasible solution detailed by him.
The user requires to change the status of an invoice from Paid (not deposited) to the invoice being deposited as they have received a matching deposit in bank. The created invoice got a match with same amount when synced QuickBooks with bank transactions. The payment was received through check which the user deposited in their bank and thus allowed the match to be correct. However, the invoice status in the QuickBooks software still portrays paid (not deposited) status. The user now needs to change the status to Deposited. So how does one go about this change?
In general terms, Invoice is also known as Contract or Bill of Sale that is issues by the seller in the name of the buyer revolving around the products bought from the seller. It recognizes both sides of trading parties as well as the lists, along with proper description and quantities of the sold items. Shipment date, transport modes and payment terms including date of delivery and price (discount provided).
Mostly Invoice transactions are not provided status of ‘Not Deposited’ or ‘Deposited’ as it is not affecting any of the business’ cash related accounts (it generally pertains to Accounts Receivable account and Products & Services accounts). Status generally qualified with Invoice transactions are:
The status reflected against the invoice indicates the stage of payment by the buyer. Moreover, cash transactions made by some buyers require status like Deposited and Undeposited but such deposit of cash into bank account is a rare occurrence. This is why such feature is currently not available with QuickBooks software. But since the demand for status of Deposited and Not deposited has increase, Intuit has put its engineers to work on this feature. In the meantime, users can follow steps below to change the status manually. All they need to do is follow two steps:
- Create an Invoice
- Select and Click on the Plus ‘+’ icon followed by clicking on the option labeled Invoice.
- Type in all the relevant details as per the fields set and then click on ‘Save’ option.
- Receive Payment
- Select and Click on the Plus ‘+’ icon followed by clicking on the option labeled ‘Receive Payment’.
- Type in the required buyer’s name under the search field labeled ‘Choose a Customer’ and click on the relevant customer’s name.
- Now move on to ‘Outstanding Transactions’ tab and followed by clicking on the appropriate invoice payment needs to be made for.
- Click Save and close.
Once the payment received step is completed user needs to make a bank deposit in authentic and correct bank account for which following steps are needed to be followed:
- Select and Click on the Plus ‘+’ icon followed by the Bank Deposit option.
- Select the drop down arrow icon against the tab labeled Deposit and click on the appropriate bank account option from the drop down menu.
- Click on option ‘Select Existing Payments’ option and from there tick mark against the payment user has deposited in bank.
- Now select the save button and close the screen.
Once the step for bank deposit is completed, it is recommended to connect with the experts of QuickBooks to ensure no undue mistakes are made. Furthermore, they will also put the users name under the list of clients to be notified when the issue is resolved and this feature is added amongst the software. To connect with support team following method can be fruitful:
- Visit website – https://help.quickbooks.intuit.com/en_AU/contact.
- Select the correct option related to the user’s issue.
- Select on either Start a Chat option or Send Email.
The above illustrated steps ensure that the user can easily change the status of their invoice from just Paid to Deposited manually. However, for any issue in following the steps QuickBooks expert team can be approached. Moreover, if there is any issue in connecting with the team of QuickBooks for the same user can connect with us at our toll free number +1-855-481-5335 and live chat option on our website – http://quickbooksnumber.support/